Michigan-Peninsular Car Company

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Michigan-Peninsular Car Company
Typepublic
Industryrail transport
Founded1892
Headquarters
Detroit, MI
,
United States
Productsfreight cars

The Michigan-Peninsular Car Company was a railroad rolling stock manufacturing company formed from the merger of five manufacturing companies in 1892.[1] It was Detroit's largest manufacturer before the rise of the automotive industry.[2]

In 1899, it merged with a dozen other railroad car manufacturing firms to form American Car and Foundry Company (ACF).[3]

History[]

Michigan-Peninsular Car Company was formed from the merger of Michigan Car Company, Peninsular Car Company, , and , with Russell A. Alger appointed as the first president of the consolidated company.[1] The combined company could build over 100 new freight cars per day.[4] It was financed and controlled by a syndicate led by James A. McMillan.[5]

The Panic of 1893 directly affected Michigan-Peninsular as orders for new cars evaporated, the plant was completely closed for five months.[1] The next three years and the further financial difficulties of 1897 also negatively affected Michigan-Peninsular such that the company was considering reducing the amount of capital stock available. One report in the New York Times claims that Michigan-Peninsular had issued $3,000,000 in common stock and $5,000,000 in preferred stock and that during this time Col. Frank J. Hecker and Charles L. Freer gained a controlling interest in the company.[5]

In 1899, Michigan-Peninsular was one of 13 companies merged to form ACF, with Michigan-Peninsular's plant becoming ACF's Detroit Plant. In 1902, the Detroit Plant became the first of ACF's facilities to move a car under construction on its own trucks between stationary workstations.[1][6]

See also[]

References[]

  1. ^ a b c d "Michigan-Peninsular Car Company". Mid-Continent Railway Museum. 2006-04-11. Retrieved 2008-04-16.
  2. ^ Klug, Thomas (November 5, 1999). Railway Cars, Bricks, and Salt: The Industrial History of Southwest Detroit before Auto (PDF) (Speech). Archived from the original (PDF) on July 13, 2007.
  3. ^ Moody, John (1904). The Truth about the Trusts: A Description and Analysis of the American Trust. New York: Moody Publishing Company. pp. 217. Retrieved 2008-04-16. jackson & woodin.
  4. ^ White 1993, p. 604
  5. ^ a b "Michigan-Peninsular Car Company". New York Times. 1897-07-28. Retrieved 2008-04-16.
  6. ^ White 1993, p. 150
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